The new company will comprise, on the one hand, all of Ringier’s magazine titles in German-speaking and French-speaking Switzerland, including their associated online offerings, as well as the French-speaking Swiss quality newspaper *Le Temps*, on the other hand, Axel Springer Switzerland, which encompasses all of Axel Springer SE’s Swiss operations. The company will operate under the name Ringier Axel Springer Medien Schweiz AG and will be headquartered in Zurich.
With the new company, the partners aim to significantly improve their competitiveness in the Swiss reader and advertising markets and, in particular, to accelerate the digital transformation of their well-known brands. By joining forces in this way, Ringier and Axel Springer are extending their existing, successful partnership in Eastern Europe to include their Swiss operations. Since the founding of Ringier Axel Springer Media AG in July 2010—which oversees operations in Eastern Europe—the share of digital business, which stood at just 7 percent at the start of the joint venture, has more than quintupled. Currently, digital revenue accounts for 36 percent of the Eastern Europe joint venture’s total revenue. Ringier will fully consolidate the planned new company. Axel Springer will consolidate its proportionate share of the joint venture’s earnings.
Marc Walder (CEO of Ringier) will become Chairman of the Board of Directors. Ralph Büchi (President International at Axel Springer SE) will serve as Delegate of the Board of Directors—the management of the new joint venture will report directly to him. Claudio Cisullo (Member of the Ringier Board of Directors) and Alexander Theobald (Head of Operations & Business Development at Ringier) are Ringier’s other representatives on the Board of Directors. Representing Axel Springer on the Board of Directors will be Dr. Mathias Döpfner (CEO of Axel Springer SE) and Julian Deutz (Chief Financial and Human Resources Officer of Axel Springer SE).
The members of the Executive Board are: Urs Heller (Head of Consumer Magazines, German-speaking Switzerland), Marcel Hürlimann (CFO/COO), Daniel Pillard (Head of Romandie), Jörg Tobuschat (Head of the Consumer Market and Deputy Head of Consumer Magazines for German-speaking Switzerland) and Roland Wahrenberger (Head of Beobachter and Amiado Group). The business media are currently being managed on an interim basis directly by Ralph Büchi.
Ringier Axel Springer Medien Schweiz is expected to be operational as early as January 1, 2016, and will initially continue to operate from its current locations in Zurich. The new company is expected to have a single, shared location by 2017 at the latest.
The marketing of Ringier Axel Springer Medien Schweiz's products will be handled by the planned joint marketing organization to be established by Ringier, SRG, and Swisscom.
Marc Walder, CEO of Ringier: «We look forward to the planned partnership with Axel Springer in Switzerland. Combining our complementary portfolios makes sense both journalistically and from a business perspective. Our existing joint venture with Axel Springer in Eastern Europe demonstrates just how much both partners can benefit from each other.»
Ralph Büchi, President International at Axel Springer SE: «Together with Ringier, we will significantly improve our competitiveness in the Swiss reader and advertising markets and, in particular, accelerate the digital transformation of our strong brands.»
The portfolio of the planned joint venture includes, among others, the following titles:
Ringier: Schweizer Illustrierte, SI Style, Gault&Millau, GlücksPost, Schweizer LandLiebe, Bolero, BoleroMen, TVtäglich (Ringier's share), L'illustré, L'Hebdo, TV8, Le Temps.
Axel Springer: Beobachter, Tele, TVStar, TV vier, TV2, Handelszeitung, Bilanz, PME Magazine, trade journals (Schweizer Bank, Schweizer Versicherung), Wirtschaftsnetz Online, Amiado Group (Students.ch, Usgang.ch, Partyguide.ch).
The transaction is still subject to approval by various foreign antitrust authorities. Approval has already been granted by the relevant antitrust authorities in Switzerland (Weko) and Germany (Bundeskartellamt).